I think it is not good to say that every ico is a scam because there are reliable projects as well. I have seen different icos and some were really good and profitable
there are indeed many ICOs who cheat but we can't say that all ICOs are cheating because there are still some good ICOs.
but now there are many people who use ICO to cheat so we have to be careful when we want to follow it and not too much when investing in ICOs.